There are basic things that one should know before establishing any business in the world: in Africa, America, Asia, Europe and the Middle East. These are indispensable facts and truths that must be followed religiously or as prescribed by a doctor. Any negligence in any of them leads to failure or many never allow you to start a business. These simple steps are outlined below:
1. Identify the needs. Every business provides solutions to the needs of its customers. These solutions could be in the provision of goods and services. Everyone under the Sun has one need or another and is looking for a solution. And as you identify the needs and provide the solution, you’ll be rewarded in cash more often than not, so you’re already in business.
2. Identify your passion. There are many needs around us, but sometimes difficult to identify. To do this, therefore, ask yourself the following questions, what do I like to do? What is your Hobbie? Singing, baking, serving, teaching, etc. Anything you like to do without stress, a lot of supervision, or a lot of planning is your hobby. There are people who want to enjoy for money, so give it to them and earn some money.
3. Training. Training involves learning to know what you like to do more effectively and efficiently using the latest technologies and methods. Training brings out the best in you and sometimes identifies your passion and the needs that surround you. It is the acquisition of knowledge and wisdom is the correct application of knowledge. So training makes you wise. How much training do you have? Train today to enjoy tomorrow, save your time and money today to earn more tomorrow. Get more training today in any field of your activity… or neglect it and regret it tomorrow. Technologies are changing and improving day by day, improve along with training. Do you know how to use the computer? Know that the money that half of the money in the world is made through the Internet/computer. Ignorant is terrible, train yourself today.
4. Equity. This is one of the biggest factors that determine the start-up of any business. Most of the businesses were unable to get off the ground due to lack of them, or unable to expand and continue due to insufficiency and sometimes their surplus leads to lack of proper planning and poor management. There are several ways to obtain capital to start a business which are listed below: i. personal savings. ii. Savings regime and cooperatives. iii. Daily contribution and savings regime (Isusu or Akawo). IV. Contributions from family and friends. V. Bank loans. SAW. Camaraderie.
5. Business location. The type of business you want to start will determine your location. The factors that determine its location are but are not limited to: Proximity to raw materials, Proximity to the market/customers. An agricultural company will not be located in the center of the city, but in the village where there is a lot of farmland. While an internet/computer business will be located in the center of the city with internet facilities.
6. Socialization. Every business grows as a result of the product/service and the customers. A commercial transaction is complete when it reaches the final consumer. Training makes you an expert, while socialization links you to your potential customers. Always make friends, have a functional phone line (24/7), an active email account (free), connect to Facebook and Twitter (free), let many know what you do, use bulk sms to advertise your products and services.
7. Honesty and Integrity. Skill and training get you to the top, while honesty and integrity keep you on top. It’s one thing to start a business; another thing is to maintain that business. Deliver what he promised on time, never let anyone down. Bad news spreads faster than good news, so be careful and be courteous to your customers. Maintain a high level of integrity and make sure you achieve it. See you at the top.